Italy has announced a 14 billion euros aid package in a bid to curb rising energy prices

Unions met with the government to discuss the economic impact of the war in Ukraine.

This package accompanies the 15 billion euros already budgeted this year to lessen the blow of electricity, gas and petrol prices for firms and households.

Italy depends heavily on Russia for energy and has seen it’s growth forecast shrink since the war in Ukraine began at the end of February.

Rome intends to continue its fuel price cut until July 8, dropping prices by 25 cents per litre.

But the aid shouldn’t put Italy into too much debt with Rome aiming to fund the packages with its 6 billion euros of budget leeway, a product of higher tax revenues and lower costs.